Talbots Buyout Done, and So is CEO Sullivan

Talbots is expected to unveil new management for the classic women's clothing retailer this week after a finalized buyout of the Hingham, Mass.-based company triggered CEO Trudy Sullivan's resignation. Sycamore Partners expected to complete its purchase of the struggling Talbots last week. The New York private equity firm said it completed its tender offer for the classic women's clothing retailer that expired Thursday night and left Sycamore in control of 83.6 percent of Talbots’ outstanding shares.